Stock-Based Compensation

9 Months Ended

Sep. 26, 2020

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

Stock-Based CompensationThe Corporation measures stock-based compensation expense at grant date, based on the fair value of the award. Forms of awards issued under shareholder approved plans include stock options, restricted stock units based on a service condition ("restricted stock units"), restricted stock units based on both performance and service conditions ("performance stock units"), and shares issued under member stock purchase plans. Stock-based compensation expense related to stock options, restricted

stock units, and performance stock units is recognized over the employees' requisite service periods. Additionally, expense related to performance stock units is adjusted for the probability that the Corporation will perform within an established target range of cumulative profitability over a multi-year period.

The following table summarizes expense associated with these plans (in thousands):

	Three Months Ended				Nine Months Ended
	September 26, 2020		September 28, 2019		September 26, 2020		September 28, 2019
Compensation cost	$	1,087	$	1,336	$	6,746	$	5,408

The options and units granted by the Corporation had fair values as follows (in thousands):

	Nine Months Ended
	September 26, 2020		September 28, 2019
Stock options	$	—	$	6,211
Restricted stock units	$	6,431	$	361
Performance stock units	$	5,920	$	—

The following table summarizes unrecognized compensation expense and the weighted-average remaining service period for non-vested stock options and stock units as of September 26, 2020:

	Unrecognized Compensation Expense (in thousands)		Weighted-Average Remaining Service Period (years)
Non-vested stock options	$	1,519	1.1
Non-vested restricted stock units	$	1,994	0.9
Non-vested performance stock units	$	876	1.3